ABI slams new proposals for FSCS funding

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Trade body said it was concerned that insurers could bear additional costs.

The Association of British Insurers (ABI) has hit out at new proposals for funding the Financial Services Compensation Scheme (FSCS), saying there is "no justification" for making product providers pay additional contributions. 

The comment followed the launch of a consultation by the Financial Conduct Authority (FCA) yesterday on the future funding of the FSCS and a number of specific changes to its scheme rules.

The regulator said it wanted to ensure protection for consumers and fairness for

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